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201300074
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Last modified
12/31/2013 10:45:42 AM
Creation date
1/4/2013 2:32:31 PM
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DEEDS
Inst Number
201300074
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201300074 <br /> permitted under applicable law,Trustor shall pay or reimburse Beneficiary for all taxes,assessments <br /> or other charges which Beneficiary is obligated to pay as a result thereof;provided, however, if for <br /> any reason payment by the Trustor of any such new or additional taxes,assessments or other charges <br /> would be unlawful or if the payment thereof would constitute usury or render the Loan wholly or <br /> partially usurious under any of the terms or provisions of the Credit Agreement,Note, or this Deed <br /> of Trust,or otherwise,the Beneficiary may, at its sole option,upon thirty(30)days' written notice to <br /> the Trustor, declare the whole indebtedness secured by this Deed of Trust, with interest thereon, to <br /> be immediately due and payable. Such taxes, assessments or other charges shall be part of the <br /> Obligations and shall be secured by this Deed of Trust. <br /> ARTICLE V <br /> DEFAULTS, REMEDIES AND RIGHTS <br /> SECTION 5.01. Events of Default. The occurrence of any of the following events <br /> shall be deemed an event of default ("Event of Default") hereunder and shall, at the option of <br /> Beneficiary make all amounts then remaining unpaid on the Obligations immediately due and <br /> payable, all without further demand, presentment, notice or other requirements of any kind, all of <br /> which are expressly waived by Trustor,and the lien,encumbrance and security interest evidenced or <br /> created hereby shall be subject to foreclosure in any manner provided for herein or provided for by <br /> law and all other remedies available at law or in equity: <br /> (a) The occurrence of any Event of Default(as defined in the Credit Agreement) <br /> under the Credit Agreement; or <br /> (b) Trustor shall default in the performance or observance of any term,covenant <br /> or condition required to be observed by Trustor under this Deed of Trust. <br /> SECTION 5.02. Fixtures. Upon the occurrence of any Event of Default, or at any <br /> time thereafter, Beneficiary may, to the extent permitted under applicable law, elect to treat the <br /> fixtures included in the Mortgaged Property either as real property or personal property,or both,and <br /> proceed to exercise such rights as apply thereto. With respect to any sale of real property included in <br /> the Mortgaged Property made under the power of sale herein granted and conferred, Beneficiary <br /> may, to the extent permitted by applicable law, include in such sale any personal property and <br /> fixtures included in the Mortgaged Property relating to such real property. <br /> SECTION 5.03. Remedies Cumulative. All notice and cure periods provided in this <br /> Deed of Trust,the Credit Agreement or any other Loan Document shall run concurrently with any <br /> notice or cure periods provided under applicable law. No remedy or right of Beneficiary or Trustee <br /> hereunder, under the Credit Agreement and any other Loan Document or otherwise. or available <br /> under applicable law, shall be exclusive of any other right or remedy,but each such remedy or right <br /> shall be in addition to every other remedy or right now or hereafter existing at law or in equity under <br /> any such document or under applicable law. No failure or delay by Beneficiary in exercising any <br /> right hereunder shall operate as a waiver thereof or of any other right nor shall any single or partial <br /> exercise of any such right preclude any other further exercise thereof or of any other right. Unless <br /> otherwise specified in such waiver or consent,a waiver or consent given hereunder shall be effective <br /> -17- <br />
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